Amrita gupta (Student CA Final ) 05 March 2021
Naveen (student) 05 March 2021Any amount or property received from relatives is exempted from tax. Relatives include mother, father, brother, sister, son, daughter etc.. So, Yes u can give.
Naveen (student) 05 March 2021Not req. Gift deeds are meant for gift of immovable properties like land, buildings etc and to some extent movable properties like motor vehicles. But in practice, absolutely there is no need for Gift deed for money transfer.